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Housing prices are dropping almost everywhere especially as investors or homeowners are unable to make the monthly mortgage payment and homes go into foreclosure. Sounds like a great time to get into the market if you missed out on it before, right? Well, not so fast. First of all you have to realize that there many homes available at bargain basement pricing, but most people are not able to qualify to become investors because they don't have enough income to qualify for their current monthly ...
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A survey of elected local officials shows that the recent increase in foreclosures has significantly increased vacant properties, homelessness, and crime while decreased city revenue. The National League of Cities surveyed 211 officials through online and e-mail questionnaires, and 67% of those surveyed reported an increase in foreclosure in their respective cities. 33% reported an increase in vacant properties and decrease of local revenue. Cynthia McCollum, President of the National ...
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Buying Foreclosures At A Public Foreclosure Sale Auction Buying foreclosures at the auction is a great way to purchase a property under market value. Most properties are auctioned at the property address, some at the courthouse. The location will be listed in the foreclosure auction listing. The property is auctioned off to the public and the highest bidder walks away with the property. This can be very rewarding to those who are in a position to buy the property within a short amount of ...
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